Press release
Global Construction Lubricants Market Projected to Surpass $18.82 Billion by 2029 with 6% Annual Growth
Construction Lubricants Market
The construction lubricants market is experiencing substantial growth, largely due to an increase in construction and mining operations. Construction lubricants are substances that reduce friction between touching surfaces, thereby reducing the heat produced during surface movement. This type of lubricant is primarily used in marine engines, vehicles, and various other forms of machinery. For example, it is projected that the Indian mining and construction equipment sector will experience growth of 15-20% in the 2021 calendar year and 5-10% in 2022. An impressive demand increase of 45-50% was reported in the first quarter of 2021 for equipment. These contributing factors are expected to significantly bolster the construction lubricants market.
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What is the future CAGR of the construction lubricants market, and how will it impact industry expansion?
In the past few years, the size of the construction lubricants market has witnessed a significant expansion. It is projected to swell from $13.85 billion in 2024 to $14.9 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 7.6%. The previously observed growth can be credited to an upsurge in infrastructure development, urbanization patterns, industrialization, and worldwide economic progression.
The market size for construction lubricants is on track to experience considerable growth in the coming years. It's projected to expand to a worth of $18.82 billion by 2029, with a compound annual growth rate (CAGR) of 6.0%. This growth for the specified period can be credited to factors such as ingenious construction methods, eco-friendly construction, digitalisation in construction machinery, and emerging markets. Trending developments over this forecast period consist of eco-friendly lubricants, tailor-made formulations, collaborations and partnerships, the popularity surge of synthetic lubricants, and market proliferation in the Asia-pacific region.
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What are the most significant trends transforming the construction lubricants market today?
One prevailing trend in the construction lubricants market is the rise of zinc-free (ashless) lubricants. These lubricants are used within the construction industry to lower the friction between moving parts or surfaces, improving the performance of the machinery. Historically, lubricants containing high levels of zinc have been known to instigate corrosion in certain metals, including yellow metals due to their chemical impacts on metal surfaces, in addition to causing environmental issues. However, zinc-free lubricants showcase an impressive capability to resist wear, rust, foam, oxidation, air and water entrainment and offer superior thermal stability. For instance, the production of zinc-free lubricants lessens sludge by 85 to 99.5%, maintains more viscosity, reduces metal wear by 04-06%, and doubles the effective service life when compared to ZDDP-based hydraulic oil.
Which key market segments comprise the construction lubricants market and drive its revenue growth?
The construction lubricants market covered in this report is segmented -
1) By Basis Type: Hydraulic Fluid, Engine Oil, Gear Oil, Automatic Transmission Fluid (ATF), Grease, Compressor Oil
2) By Base Oil: Synthetic Oil, Mineral Oil
3) By Application: Earthmoving Equipment, Material Handling Equipment, Heavy Construction Vehicles, Other Applications
Subsegments:
1) By Hydraulic Fluid: Mineral Oil-Based Hydraulic Fluids, Water-Based Hydraulic Fluids, Biodegradable Hydraulic Fluids
2) By Engine Oil: Mineral Engine Oil, Synthetic Engine Oil, Semi-Synthetic Engine Oil
3) By Gear Oil: Mineral Gear Oil, Synthetic Gear Oil
4) By Automatic Transmission Fluid (ATF): Conventional ATF, Synthetic ATF
5) By Grease: Lithium-Based Grease, Calcium-Based Grease, Complex Grease
6) By Compressor Oil: Mineral Compressor Oil, Synthetic Compressor Oil
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What regions are at the forefront of construction lubricants market expansion?
Europe was the largest region in the construction lubrication market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the construction lubricants market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the leading players fueling growth in the construction lubricants market?
Major companies operating in the construction lubricants market include ExxonMobil Corporation, Royal Dutch Shell plc, TotalEnergies SE, China Petrochemical Corporation (Sinopec), Chevron Corporation, PetroChina Company Limited, FUCHS Petrolub SE, PJSC LUKOIL, China Petroleum & Chemical Corporation (Sinopec), Phillips 66 Company, Morris Lubricants, Penrite Oil, Valvoline Inc., Liqui Moly GmbH, Eni S. p. A., Addinol Lube Oil GmbH, Indian Oil Corporation Limited, Bel Ray Company LLC., Gulf Oil India, Petroliam Nasional Berhad (Petronas), BP p. l. c., Gazprom Neft, Idemitsu Kosan Co. Ltd., JXTG Nippon Oil & Energy Corporation, Quaker Chemical Corporation, The Lubrizol Corporation, Warren Oil Company Inc., Klüber Lubrication, Schaeffer Manufacturing Co.
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What Is Covered In The Construction Lubricants Global Market Report?
•Market Size Forecast: Examine the construction lubricants market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the construction lubricants market for a structured understanding.
•Key Players Overview: Analyze major players in the construction lubricants market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the construction lubricants market.
•Segment Contributions: Evaluate how different segments drive overall growth in the construction lubricants market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the construction lubricants market.
•Industry Challenges: Identify potential risks and obstacles affecting the construction lubricants market.
•Competitive Landscape: Review strategic developments in the construction lubricants market, including expansions, agreements, and new product launches.
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